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Buy Bitcoin on the Blockbid exchange

How can you buy Bitcoin on the Blockbid exchange?

Bitcoin is not everyone’s cup of tea, but it’s undeniable that the cryptocurrency
changed the way we perceive the virtual world and the way we handle money
transactions. For a short introduction into the realm of cryptocurrency, Bitcoin is a decentralised digital currency and a world payment system that
runs on the Blockchain network.

The Blockchain is the virtual ledger that records those transactions in a way
that makes them unalterable, consecutive and public. If you want to buy Bitcoin,
the safest way to do it is through a local, certified exchange like Blockbid.

Purchasing Bitcoins on a virtual platform is safer and more straightforward.
You will need to open an account providing your personal details, verify it to
gain access and, after that, you can start trading. Blockbid is based in
Australia, and it’s fully compliant with Australian cryptocurrency laws and
AUSTRAC guidelines.

If you want to buy Bitcoins, you need to place an order with regard to the
internal rules of the exchange, then you will have to choose your payment method
and remunerate the amount. When the transaction is completed, you will receive
your Bitcoins on the online electronic wallet provided to you by Blockbid for usage on the exchange.

Subsequently, you are free to transfer your Bitcoins into your permanent wallet
(hardware, software and mobile) or keep them on the exchange for further trading.

Why should you consider Bitcoin trading?

One of the most common questions in the cryptocurrency world is whether you should
consider trading Bitcoins in the first place. The cons of Bitcoin trading are the
relatively short track record, the volatile nature of the market, the momentum
fever and the general uncertainty of the novel technology. The pros, however,
are the following:

Endurance - The Bitcoin virtual currency has fierce competition in the fiat currencies
(USD, EUR and AUD), and in the gold/silver commodities, the fact that it’s
still gaining traction and it’s getting a wider audience by each passing day
speaks volumes of the Bitcoin durability on the market.

Irreversibility - As we mentioned in the beginning, the Blockchain technology prevents
reversibility, meaning once you get your Bitcoins, they are yours. Bank transfers
are reversible.

“Digital Gold” - It’s the synonym for Bitcoin since it became popularised in the mainstream
media, and for a good reason. The Bitcoin price is more similar to the price
of gold than any other fiat currency. Furthermore, the value of the Bitcoin
is tied to the technology that made it possible — the Blockchain.

Investment opportunity - One of the main reasons people buy Bitcoins is because of its decentralised
nature (free from government and institutional control). If you want to invest
in Bitcoin or if you wish to have a hedge against market uncertainty, acquiring
cryptocurrencies can be a smart way to achieve that.

Buy Bitcoins in Australia

If you are contemplating about buying Bitcoins in Australia, then you should
consider opening an account on Blockbid.

Blockbid is a secure virtual exchange platform that facilitates the trading of
more crypto-coins on a single platform than any other exchange in the world.
Every major fiat currency is supported for trading on the exchange, so that
you can pay for transactions in AUD, EUR, USD or other currencies.

Furthermore, the fiat currency costs are minimal, at only 0.1 percent in transaction
fees, However, if you are based in Australia, it’s smarter to buy BTC with AUD.

The platform has an intuitive interface, which is easy for navigation by beginners
and expert traders alike. You will be proficient with the inner mechanics of buying
and selling Bitcoins very quickly.

Also, if you are worried about the speed, Blockbid can perform up to 1 million
transactions per second, since it was built from the ground up in order to
support high traffic.

The security of the assets is always the most critical request of cryptocurrency
traders, which is why 95 percent of all deposits are stored in an offline
multi-signature hardware vault. Blockbid is one of the first exchanges, which is
entirely covered by cybersecurity insurance. Moreover, the platform is compliant
with AML/CTF guidelines drawn by AUSTRAC and Australian cryptocurrency laws.

Is buying Bitcoin a prudent investment?

“Well, I think it is working. There may be other currencies like it that may be even
better. But in the meantime, there’s a big industry around Bitcoin. People have made
fortunes off Bitcoin, some have lost money. It is volatile, but people make money
off of volatility too. Virgin Galactic is a bold entrepreneurial technology.
It’s driving a revolution. And Bitcoin is doing just the same when it comes to
inventing a new currency.”

- Richard Branson, Founder of Virgin Galactic

Buying Bitcoin as an investment is not a novel concept, but a somewhat popular
one among owners. What the economic analysis has shown so far is that even
though the Bitcoin is a volatile commodity, at the same time, it’s also an asset,
which is valuable enough for risk management. Furthermore, investors tend to use
the Bitcoin as a safe-haven for certain assets, and they include it in their
portfolio for diversification purposes.

Investment tips

While we are on the subject of Bitcoin investment, we might as well offer some
sensible and practical advice on the matter:

You should only invest as much as you are willing to lose/afford - The Bitcoin market is not a stable one. On the contrary, as Richard
Branson would say, you can make money off of volatility, but you can also
lose them.

Use a verified exchange - It cannot be emphasised enough how crucial it is to always use a reputable
exchange for cryptocurrency transactions. As a trader, you should familiarise
yourself with the in-house rules and find a local exchange where you can buy
and sell Bitcoins safely.

Start small - Once you understand how to buy Bitcoins, the smartest way to build up your
portfolio is to take it slow. Learn about market capitalisation and reading
the financial charts shown on the platform, and after some time, you will be
able to make your own predictions about the Bitcoin price.